In a closed economy, the values for GDP, consumption spending, investment spending, transfer payments, and taxes are as follows:
Y = $12 trillion.
C = $9 trillion
I=$ 3 trillion
TR=$2 trillion
T = $ 3 trillion
Using the information above, what is the value of private saving and public saving?
A. private saving equal $9 trillion and public saving equal $ 3 trillion.
B. private saving equal $1 trillion and public saving equal $ 2 trillion.
C. private saving equal $2 trillion and public saving equal $ 1 trillion.
D private saving equal $3 trillion and public saving equal $ 9 trillion.
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